PFAs Invested N130bn in Infrastructure – PenCom   Pension Fund Administrators (PFAs) invested N130.18 billion funds under the Contributory Pension Scheme in infrastructure as of the end of September 2023. Figures obtained from the National Pension Commission (PenCom) on ‘Unaudited report on pension funds industry portfolio for...

Nigeria Leads as Airlines’ Trapped Funds In Africa Hit $1.68bn - IATA   Foreign airlines’ trapped funds in Africa hit a record $1.68 billion by the end of September 2023 with Nigeria topping the list of debtors, the International Air Transport Association (IATA) has revealed. Other countries...

$35bn Required to Execute Concrete Road Projects - Umahi   The Minister of Works, David Umahi, has revealed that the government needs $35bn to kick start the construction of concrete roads nationwide. He also stated that the moribund Ajaokuta steel company will provide 16 per cent of...

222,141 Workers Dump PFAs, Move N908bn – PenCom   No fewer than 222,141 workers have changed their Pension Fund Administrators and moved N908.363bn from their Retirement Savings Accounts since the National Pension Commission opened the window of transfer. PenCom disclosed this in its transfers report on ‘Quarterly...

Monetary Reforms Yielding Positive Results - CBN The Central Bank of Nigeria said that its monetary policy reforms are beginning to have positive effects on the country’s economy. Reacting to the just-released inflation rate for October in a statement issued by the Director of the Corporate...

We're Targeting $13bn Revenue From National Assets - Finance Minister   Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun yesterday in Lagos unveiled plans to leverage the nation’s assets to generate about $13 billion annual revenue. Edun disclosed this while speaking at the...